10 Best Retirement Stocks to Buy According to Hedge Funds

2. Johnson & Johnson (NYSE:JNJ)

Beta Value: 0.48

Dividend Yield: 3.06%

Number of Hedge Fund Holders: 98

Johnson & Johnson (NYSE:JNJ) is a leading participant in the healthcare industry, which includes sub-sectors including medications, Medtech equipment, and consumer health products. The firm is well-known for developing pharmaceuticals to treat a wide range of conditions and diseases, including cancer, diabetes, and HIV/AIDS.

The corporation has increased its dividends for 62 consecutive years and presently pays a quarterly dividend of $1.24 per share. As of February 22, the stock’s dividend yield stood at 3.06%.

On February 3, Guggenheim boosted its price objective for Johnson & Johnson (NYSE:JNJ) from $162 to $166, maintaining a Neutral rating on the stock. The change came after the company’s Q4 2024 results, where JNJ reported $22.5 billion in revenue and $2.04 in EPS. Guggenheim complimented Johnson & Johnson’s performance, including its first 2025 forecast, despite rising competition from Stelara biosimilars in the US market.